I have given 8 weeks notice to my existing landlord and have to leave my rented property in Goddington by the end of next month. Conveyancing on my purchase is underway. Can I complete in six weeks as don't want to have to move into temporary accommodation?
It is unwise to provide notice on a rental unless your lawyer suggests that you should. Assuming that you have not previously done so, contact to your solicitor and request that they chase the sellers lawyers, try to a target completion date that everyone will work towards
Is there a reason why leasehold purchase conveyancing in Goddington costs more?
Goddington leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
My wife and I have recently appointed a conveyancing solicitor in Goddington. I need to find out whether they are accepted on the TSB approved list of lawyers. Could you advise?
The first thing you should do is phone the lawyer and enquire whether they can act for the bank. Alternatively please call TSB who may be able to help.
How does conveyancing in Goddington differ for newly converted properties?
Most buyers of new build property in Goddington approach us having been asked by the developer to sign contracts and commit to the purchase even before the house is constructed. This is because developers in Goddington typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Goddington or who has acted in the same development.
I have been on the look out for a ground for flat up to £235,500 and identified one close by in Goddington I like with open areas and station nearby, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Goddington suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of twenty four months you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
Our conveyancer in Goddington has discovered a defect with the lease for the apartment we are buying in Goddington. The other side have suggested title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer has advised that as he is on the bank conveyancing panel he must check that the lender is happy with this solution. Are we the client or is the bank?
Just because you have a mortgage offer from the lender does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Goddington conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the mortgage company are the client. The appropriate lender requirements have to be complied with by the bank conveyancing panel who has to balance acting for you and the bank